Jeff Bezos has decided to hang his boots up by transitioning into a new role as ‘executive chairman’ at Amazon while promoting Andy Jassy, the current chief of Amazon Cloud Computing Division as the new CEO. The news is being deemed as one of the biggest people movement deeds in the last decade.
Bezos, who started Amazon around 27 years ago as an online marketplace for book-selling, said in a recent interview that he is not retiring, and will be focusing his energy on his other business undertakings such as his newspaper ‘Washington Post’, and the aerospace manufacturing firm ‘Blue Origin’. He further added – “I will also be actively participating in the climate restoration initiatives I have pledged on to”.
Bezos will officially step down in the third quarter of 2021 making way for Andy Jassy to take the load. The news broke as part of the announcement of Amazon’s 4th quarter earnings. The e-commerce giant posted quarterly net sales of USD 125.6 billion, a 44% increase from what it was the last year.
Who is Andy Jassy?
Jassy joined Amazon in 1997 exactly after two days of his taking the very last examination as a graduate student at the Harvard University. His first influential job position at Amazon was Marketing Manager. Soon, in 2006, he rose to the position of Head, Amazon Web Services (AWS), managing a team of 57 people. In 2016, he got promoted as senior vice president to CEO of AWS.
Bezos has hinted at indulging in initiatives pertaining to innovation and the launch of new revolutionary products at Amazon, post his reign as the CEO. The said people movement development is being considered as one of the most significant shake ups in the company’s hierarchy since its inception thirty years ago.